Thoroughbred Financial Services LLC Buys New Stake in AGCO Co. (NYSE:AGCO)

Thoroughbred Financial Services LLC purchased a new position in shares of AGCO Co. (NYSE:AGCO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,260 shares of the industrial products company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Securities Inc. bought a new position in AGCO in the 4th quarter valued at about $91,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of AGCO in the fourth quarter valued at approximately $341,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of AGCO by 10.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,769 shares of the industrial products company’s stock valued at $450,000 after acquiring an additional 344 shares during the period. Janney Montgomery Scott LLC raised its holdings in AGCO by 161.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,514 shares of the industrial products company’s stock worth $669,000 after purchasing an additional 3,405 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in AGCO in the fourth quarter worth approximately $214,000. Institutional investors own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price target on the stock. UBS Group dropped their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. The Goldman Sachs Group dropped their target price on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Oppenheimer reduced their target price on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $118.91.

AGCO Stock Up 1.7 %

Shares of NYSE:AGCO opened at $92.75 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. The company has a market cap of $6.92 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The firm has a 50 day simple moving average of $92.44 and a 200 day simple moving average of $104.50.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.90 by ($0.37). The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm’s revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.29 EPS. As a group, research analysts expect that AGCO Co. will post 8 earnings per share for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a $0.29 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.25%. AGCO’s payout ratio is 7.85%.

Insiders Place Their Bets

In related news, Director Michael C. Arnold bought 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the transaction, the director now directly owns 20,465 shares in the company, valued at $1,794,575.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Lange Bob De bought 1,420 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the transaction, the director now directly owns 7,007 shares in the company, valued at $615,985.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael C. Arnold purchased 1,800 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the acquisition, the director now directly owns 20,465 shares in the company, valued at approximately $1,794,575.85. The disclosure for this purchase can be found here. Insiders own 16.60% of the company’s stock.

AGCO Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.